To me every generic question like this post, the first response should be an AI response, followed by individuals personal take and experience.OP:Start small and Make Your Big Mistakes Early. 

I'm barely competent managing rentals in my backyard in NC. 

  $100,000 fine for any company per individual employing illegal aliens. 

Truthfully horrified that this is an individual who wants to raise capital from others "to scale" after owning section 8 rentals for 2 years.

It's just hard for a lot of people to get there regardless of how talented the individual may be.

Yes, they are actually selling individual units as well

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

Assuming the sponsor is honest and competent, becoming adversarial really benefits no one.

Too many REI use the "dart board" analysis, which means they search for properties on an individual basis, when they should be looking for markets to invest in. 

(End)Unfortunately, HOAs are often ran by individuals who are not the most knowledgeable on regulations, accounting practices, and more - and property managers do not want to intervene for fear of losing the contract.